155 



{iv) Forecast of financial resvlis.~The report should 

 conclude with a forecast of the anticipated financial results 

 under the management proposed. The forecast should be 

 criticised and compared with the results obtained in past 

 year. 



Example. — It is impossible to do mora ttan estimate the average annual 

 revenue. It will he noticed, from the following statement of the anticipated 

 TBvenue and expenditure during the next 10 years, that hut little profit from a 

 financial point of view will he ohtained from the working of the forests. It is 

 not intended that the position should be otherwise. The object GoTernmeut holds 

 in view in working these forests is, not to trade as timber speculators, but to secure 

 a regular supply of timber for the neigbhouring town, and to manage the forestJ so 

 that they shall be always capable of furnishing a sufficient supply. It is, therefore, 

 here proposed to devote to the improvement of the forests, which are in a dangerous 

 condition as regards their future, the greater portion of the anticipated net revenue 

 from the timber transactions. Tbe anticipated receipts daring the next 10 years 

 compare, it may be thought, too favourably with the actual results of the past decade. 

 It will be seen, however, that it is proposed to fell more than double the past average 

 annual number of trees : — 



13. Appendices to the working-plan — {i) J/aps.— The work- 

 ing-plan should be supplemented by such maps as are 

 required to clearly illustrate the general position of the 

 forests as well as their proposed exploitation and management. 



